Yiren Digital Ltd - YRD STOCK NEWS

Yiren Digital Ltd. (NYSE: YRD) reported its fourth quarter and fiscal year 2022 results, showing a total net revenue of RMB1,088.1 million (US$157.8 million), a 6.6% year-over-year increase. The net income surged 47% year-over-year to RMB485 million (US$70.4 million), with a net profit margin of 44.6%. Total revenue for 2022 was RMB3,434.6 million (US$498.0 million), down from RMB4,477.9 million in 2021. The company’s cumulative clients reached 3,138,191, showing a 1.9% increase. Adjusted EBITDA for the quarter was RMB654.1 million (US$93.5 million). For 2023, Yiren projects revenue between RMB3.6 billion and RMB4 billion, maintaining a stable profit margin.

Yiren Digital Ltd. (NYSE: YRD), a prominent digital personal financial management platform in China, is set to release its unaudited financial results for the quarter and full year ending December 31, 2022, before the U.S. market opens on March 16, 2023. An earnings conference call will take place at 8:00 a.m. U.S. Eastern Time on the same date, with registration required for participants. Yiren Digital specializes in providing customized wealth solutions and retail credit services to China’s mass affluent demographic, enhancing their asset management and borrowing capabilities.

Yiren Digital Ltd. (NYSE: YRD) announced it has regained compliance with the NYSE's minimum average closing price requirement of $1.00 per share after it was notified on November 7, 2022, that it had dropped below this standard. As of November 30, 2022, the average closing price of the company's American depositary shares (ADSs) was above the $1.00 threshold for the required 30 trading days. This positive development ensures the company's continued listing on the NYSE.

Yiren Digital Ltd. (NYSE: YRD) reported its financial results for Q3 2022, showing a 31.8% decline in total net revenue to RMB840.7 million (US$118.2 million) compared to the same quarter last year. The credit-tech business revenue decreased 44.8% to RMB493.4 million (US$69.4 million). However, the company served 3,080,757 clients, a 17.9% increase year-over-year, and achieved a net income of RMB270 million, reflecting a margin of 32.2%, up from 26.0% a year ago. Yiren plans to achieve revenue of RMB0.9 to RMB1.1 billion in Q4 2022, maintaining stable profit margins.

Yiren Digital Ltd. (NYSE: YRD) will announce its unaudited financial results for the third quarter of 2022 on November 22, 2022, before U.S. market opens. An earnings conference call is scheduled for 8:00 a.m. U.S. Eastern Time on the same day. Participants are required to register online to join the call and will receive dial-in details post-registration. The conference will also be available via a live and archived webcast. Yiren Digital is known for providing digital personal financial management solutions in China.